SIC Bondholders’ Meeting Delayed to 23rd Due to Quorum Shortage

The scheduled bondholders’ meeting for the SIC 2024-2028 Bonds has been postponed to February 23, 2026. This delay occurred due to an insufficient quorum of participants or their representatives, as indicated in a recent statement from SIC. The gathering was originally planned for today, but the quorum necessary for the meeting was not met.

Details of the Rescheduled Meeting

According to the announcement made to the Comissão do Mercado de Valores Mobiliários (CMVM), the first convening did not take place due to the lack of quorum. The assembly is now formally called to meet on February 23, 2026, at 11:00 AM (Lisbon time). For the meeting to proceed, any bondholder or their representative needs to be present, regardless of the total amount of bonds held.

Eligibility to Participate

Bondholders wishing to participate must be registered holders of SIC 2024-2028 Bonds as of midnight on February 16, 2026. They must also fulfill all other requirements stipulated in the notice of the meeting at least two hours prior to its commencement.

Agenda for the Meeting

The sole agenda item for the rescheduled meeting involves deliberating a modification to a clause related to early redemption scenarios. This specific modification pertains to clause 23.11.3 of the terms and conditions for the SIC 2024-2028 Bonds. The bondholders will discuss an amendment to clause (a) of this provision.

Background on the Proposed Amendment

• The proposed changes relate to the legal successors of Dr. Francisco José Pereira Pinto de Balsemão not holding at least one-third of the capital and voting rights of SIC.
• The effectiveness of this change depends on a capital increase of €17,325,000 to be fully subscribed by MFE – MediaforEurope (MFE).
• This capital increase was previously authorized by the shareholders of Impresa on December 29, 2025.

Impact of Changes on SIC

The transaction is expected to enhance the financial stability and liquidity of Impresa. This will, in turn, support SIC in pursuing its operational goals and addressing its social interests.

Partnership Developments

On November 26, Impresa announced a partnership with MFE, which will acquire a 32.934% stake in the parent company of SIC. Meanwhile, the Balsemão family will maintain control with a 33.738% ownership. However, it is important to note that Tilway Management Inc, a minority shareholder, has filed a lawsuit to annul the capital increase required for MFE’s entry. Nevertheless, SIC’s management does not anticipate any negative impact on the partnership’s implementation.